Affordable Homes in Karnataka
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The PMAY [Pradhan Mantri Aawas Yojna] scheme turned into reality in Karnataka. This southern state achieved the completion of more than 44,000 housing units under the scheme out of the targeted 3.4 lakhs affordable homes. This has been possible with the interest shown by aspiring home buyers and the realtors in the state.

The Karnataka state led by HD Kumaraswami received the nod from Central Government to construct 3.4 lakhs affordable units under the Pradhan Mantri Aawas Yojna which is the third highest number of units sanctioned to any state.

V Anbu Kumar, managing director, Rajiv Gandhi Housing Corporation said that out of the 3.4 lakh houses sanctioned, 44,636 are ready and 53,625 are in different stages of construction. He is focusing on the affordable housing segment in Karnataka.

In June, the housing and urban poverty alleviation (HUPA) ministry sanctioned the construction of 1,075 projects to develop 3.4 lakh houses for the ESW [Economically Weaker Sections] and the middle class in 271 cities and towns across all 30 districts of the Karnataka state.

The private builders along with various housing development authorities like Bangalore Development Authority [BDA] and Karnataka Housing Board [KHB] are responsible to carry out the construction work. Also, two model affordable housing projects developed by private builders are coming up in Bengaluru and Tumakuru.

Swarna Griha is developed by felicity Adobe LLP under the PMAY scheme at Annenahalli industrial area and Vasanth Narsapura industrial area of Tumukuru. This is also the first apartment project in the district. The prefabrication technology has been used to develop nearly 268 units.

Pranav Sharma, director, Felicity Adobe said that these residential units will cost between Rs 9.95 lakh for low-income groups (LIG) and Rs 14 lakh for middle-income groups (MIG). The home buyers will have to pay an EMI as low as Rs. 2,500 under the credit-linked subsidy scheme. The group is also likely to take up a project in Kolar and Doddaballapura. The affordable homes pooled with amenities like club house, swimming pool, lift, children play area and parking will costs Rs 14 lakhs.

Similarly, the Hebron Properties also took up an affordable housing project in Thambu Chetty Palya, off Ramamurthynagar in east Bengaluru. The CEO of the company, Preenand Premachandran, said that they recently launched 448 units worth Rs 30 lakh each. The project has got approval by BDA and covers 4.08 acres of land.